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The baby monitors market share is expected to increase by USD 226.59 million from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 2.23%.
This baby monitors market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers baby monitors market segmentations by product (audio and video baby monitors, advanced baby monitors, and audio baby monitors), distribution channel (offline and online), and geography (North America, Europe, APAC, South America, and MEA). The baby monitors market report also offers information on several market vendors, including Angelcare Monitor Inc., Arlo Technologies Inc., Dorel Industries Inc., Foscam Inc., Hisense International Co. Ltd. , iBaby Labs Inc., iBabyGuard International Pte Ltd., Jablotron Alarms AS, Koninklijke Philips NV, and Lenovo Group Ltd. among others.
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Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The rising demand from developing countries is notably driving the baby monitors market growth, although factors such as availability of alternative products and services like security cameras may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the baby monitors industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Baby Monitors Market Driver
One of the key factors driving the baby monitors market is rising demand from developing countries. The awareness of available products and brands in developing countries (such as India and China) is growing significantly. The penetration of baby monitors in countries like Brazil and India is less than 50% due to a lack of awareness of these products. Baby monitors in countries of APAC and MEA are still considered non-essential products. But this rising awareness for baby monitors ensues from the drastically rising Internet penetration in these countries. Through better and easy access to various online platforms, consumers in developing economies can gather information on advanced baby care products. This awareness has led to a huge change in customer purchasing behavior in these countries. This broadening Internet penetration has empowered consumers to offer better reach for international brands and enhanced awareness in countries such as China, India, and Thailand. These countries have huge potentials for baby care products like baby monitors. This is due to their huge population, growing awareness, increasing working parents, and improving education level. Hence, the growing awareness, rising education, and awareness will propel the demand for baby care products such as baby monitors in these countries.
Key Baby Monitors Market Trend
Another key factor driving the baby monitors market growth is the technology innovation and portfolio extension leading to product premiumization. Baby monitors are used for monitoring movement and other activities. Vendors are focusing on technology innovation and portfolio expansion per customer requirement to widen their market share. This also leads to product premiumization. Smart connected baby monitors can be connected to smartphones or tablets using wireless technology, such as Wi-Fi, to send alerts, interact, and monitor babies from remote locations. Other product innovations include multi-functional baby monitors. For instance, Motorola MBP845CONNECT baby monitor is a Wi-Fi-enabled smart baby monitor that allows communication. It displays room temperature, while its sound level indicators display noise in a room. These devices can be installed and connected with up to four cameras at once. These baby monitors can also be operated using smartphones or tablets. Thus, the inclusion of advanced and innovative features leads to the premiumization of products and boosts sales.
Key Baby Monitors Market Challenge
Availability of alternative products and services like security cameras is one of the key challenges hindering the baby monitors market growth. Baby monitors are technologically-advanced products, with the market still undergoing innovation. These products are priced high and are limited for use to monitor infants and babies. The average cost of baby monitors costs is around $50. In another instance, wireless CCTV cameras cost around $30 and can be used for other purposes at both indoor and outdoor locations. Hence, instead of buying baby monitors, owners can have proper CCTV camera setups that can monitor the interiors and exteriors of residential establishments. Therefore, limited use and the high price of baby monitors when compared with their substitute products like CCTV cameras, smart phones, mobile app hinder the market growth. Although the overall setup of CCTV cameras can be expensive, they offer a high return on investment (ROI) with a high lifespan. Parents can also appoint caretakers for their children who can monitor, take care, feed, play, and interact with them. To overcome this, vendors must invest more in promotions to spread awareness of the benefits of installing baby monitors over other alternative products and services.
This baby monitors market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Technavio categorizes the global baby monitors market market as a part of the global consumer electronics market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the baby monitors market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the baby monitors market encompasses successful business strategies deployed by the key vendors. The baby monitors market is fragmented and the vendors are deploying growth strategies such as organic and inorganic strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The baby monitors market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the baby monitors market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
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36% of the market's growth will originate from North America during the forecast period. US is the key market for baby monitors in North America. Market growth in this region will be faster than the growth of the market in Europe and MEA regions.
The growth in online retail will facilitate the baby monitors market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The COVID-19 outbreak negatively impacted the regional baby monitors market in 2020. The outbreak resulted in nationwide lockdowns, followed by the shutdown of major operations of offline distributors such as malls, retailers, wholesalers, and franchise chain shops. This decreased the sales of baby monitors in 2020. However, the lifting of lockdowns and the adoption of online selling platforms are likely to drive the regional baby monitors market during the forecast period.
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The baby monitors market share growth by the audio and video baby monitors will be significant during the forecast period. Audio and video baby monitors enjoy high preference among parents as they relay both audio and video data to the receiver or parent unit. This helps parents to closely watch their babies even while working. This growing demand for audio and video baby monitors has also motivated vendors to offer advanced products.
This report provides an accurate prediction of the contribution of all the segments to the growth of the baby monitors market size and actionable market insights on post COVID-19 impact on each segment.
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Baby Monitors Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 2.23% |
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Market growth 2021-2025 |
USD 226.59 million |
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Market structure |
Fragmented |
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YoY growth (%) |
1.81 |
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Regional analysis |
North America, Europe, APAC, South America, and MEA |
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Performing market contribution |
North America at 36% |
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Key consumer countries |
US, China, UK, Germany, and Japan |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Angelcare Monitor Inc., Arlo Technologies Inc., Dorel Industries Inc., Foscam Inc., Hisense International Co. Ltd. , iBaby Labs Inc., iBabyGuard International Pte Ltd., Jablotron Alarms AS, Koninklijke Philips NV, and Lenovo Group Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Market Segmentation by Distribution channel
7 Customer landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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